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Notes to Accounts of Nuway Organic Naturals (India) Ltd.

Mar 31, 2015

1. As per AS-15 on Employee Benefits, the short term employee benefits have been accounted on undiscounted basis.

2. In compliance of Accounting standard 18 on "Related party Disclosures" issued by the ICAI, details pertaining to related party transactions .

A. (i) Name of the related Parties

i Key management Personnel

1. MANMINDER SINGH NARANG (Director)

2. ANCHAL NARANG (Managing Director)

ii. Associate concerns

1.SHIVAM COOL DRINKS PVT. LTD.

2.THREE-N-PRODUCTSPVT.LTD.

3. R.D.M. CARE INDIA PVT. LTD.

4. AYUR INTERNATIONAL

5. THREE-N-CONSTRUCTION PVT. LTD.

6. NARANG BROS. (FIRM)

3. Primary Segment: The company is primarily engaged in the business of Liquor etc. Therefore as per Accounting Standard -17 "Segment Reporting" reportable segment is liquor segment only. Hence the company has not given segment reporting.

Secondary Segment: Geographical segment has not been given as the company is not working in a separate economic environment which has effect on risk and return, which are different from the one in which the company is presently working.

4. In the opinion of the management of the Current Assets Loan and advance is realisable value which is at least equal to the amount at which they are stated. Letters of confirmation of balance are awaited in most of the cases.

5. The company has not received any information from suppliers regarding their status under Micro, Small Scale and medium Enterprises Development Act, 2008 and hence, disclosure, if any, relating to amounts unpaid at the year end together with any interest payable as required. The said Act have not been given.

6. During the year the loans from Oriental Bank of Commerce were restructured/rescheduled and part of loans were converted into working capital term loan and funded interest Term loan.

7. Previous year's figures have been rearranged/regrouped wherever necessary to make them comparable with current figures


Mar 31, 2014

1. Corporate Information

NUWAY ORGANIC NATURALS INDIA LTD. (the Company) is a public limited company domiciled in India and incorporated on July 10, 1995 under the provisions of Indian Companies Act, 1956. The Company is in the business of the manufacturing beer, wine, whisky, rum, gin, vodka and other alcoholic / non alcoholic drinks. The company is having manufacturing plant for alcoholic drinks at Rajpura in Punjab. The company also deals in cosmetics items.

2. Basic of Preparation

The financial statements are prepared on accrual basis under the historical cost convention in accordance with the generally accepted accounting principles in India and to comply with the Accounting Standards referred to in sub section (3C) of section 211 of the Companies Act, 1956 including the Rules framed there under.

3. Use of estimates

The preparation of financial statement in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amounts of the assets and liabilities on the date of the date of financial statement and reported amount of Revenue and Expenses during the reporting period. Differences between Actual and estimates are recongnised in the period in which result get materialized.

4. Deferred Tax Liabilities (Net)

Due to future uncertainty of Future taxable profit, the company has not created any Deffered tox Assets/Liabilities during the year.

5. Contingent Liabilities not provided for in respect of

1.

Outstanding Bank Guarantees (in Lacs) 23.69 63.75

6. Commitments

Estimated amount of contracts remaining to be executed on capital account - -

Estimated amount of contracts remaining to be executed on revenue account and not - 7.22 provided of (in Lacs)

7. As per AS-15 on Employee Benefits, the short term employee benefits have been accounted on undiscounted basis.

8. In compliance of Accounting standard 18 on "Related party Disclosures" issued by the ICAI, details pertaining to related party transactions .

A. (i) Name of the related Parties

i Key management Pesonnel

1. MANMINDER SINGH NARANG (Managing Director)

2. ANCHAL NARANG (Whole Time Director)

ii. Associate concerns

1. SHIVAM COOL DRINKS PVT. LTD.

2. THREE-N-PRODUCTS PVT. LTD.

3. R.D.M. CARE INDIA PVT. LTD.

4. AYUR INTERNATIONAL

5. THREE-N-CONSTRUCTION PVT. LTD.

6. NARANG BROS. (FIRM)

9. Primary Segment : The company is primarily engaged in the business of Liquor etc. Therefore as per Accounting Standard -17 "Segment Reporting" reportable segment is liquor segment only. Hence the company has not given segment reporting.

Secondary Segment : Geographical segment has not been given as the company is not working in a separate economic environment which has effect on risk and return, which are different from the one in which the company is presently working.

10. In the opinion of the management of the Current Assets Loan and advance have realisable value which is at least equal to the amount at which they are stated. Letters of confirmation of balance are awaited in most of the cases.

11. The company has not received any information from suppliers regarding their status under Micro, Small Scale and medium Enterprises Development Act, 2008 and hence, disclosure, if any, relating to amounts unpaid at the year end together with any interest payable as required, the said Act have not been given.

12. Previous year''s figures have been rearranged/regrouped wherever necessary to make them comparable with current figures.


Mar 31, 2013

1. Corporate information

Nuway Organics Natural India Limited(the Company) is a public limited company domiciled in India and incorporated on July 10, 1995 under the provisions of Indian Companies Act, 1956. The Company is in the business of the manufacturing beer, wine, whisky, rum, gin, vodka and other alchoholic/non alchoholic drinks. The company is having manufacturing plant for alchoholic drinks at Rajpura in Punjab. The company also deals in cosmetics items.

2. Basis of preparation

The financial statements are prepared on accrual basis under the historical cost convention in accordance with the generally accepted accounting principles in India and to comply with the Accounting Standards referred to in sub section (3C) of section 211 of the Companies Act,1956 including the Rules framed there under.

3. Use of estimates

The preparation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amounts of the assets and liabilities on the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Differences between actual and estimates are recognized in the period in which results get materialized.

4. Contingent liabilities not provided for in respect of:

i. Outstanding Bank Gaurantees (in lacs) 63.75 3.00

5. Commitments

Estimated amount of contracts remaining to be executed on capital account and not - 30.00 provided for (in lacs)

Estimated amount of contracts remaining to be executed on revenue account and not 7.22 280.00 provided for (in lacs)

6. As per AS-15 on Employee Benefits, the short term employee benefits have been accounted on undiscounted basis.

7. In compliance of Accounting Standard 18 on "Related Party Disclosures" issued by the ICAI, details pertaining to related party transactions are as follows:

A. I. Names of related Parties

i.. Key Management Personnel

1. MANMINDER SINGH NARANG (Managing Director)

2. ANCHAL NARANG(Whole Time Director)

iii. Associate Concerns

1. SHIVAM COOL DRINKS PVT. LTD.

2. THREE-N-PRODUCTS PVT LTD

3. R.D.M. CARE INDIA PVT. LTD.

4. AYUR INTERNATIONAL

5. THREE-N-CONSTRUCTION PVT. LTD.

6. PEARLS OF BEAUTY (FIRM)

7. NARANG BROS. (FIRM)

8. The company has various cancelable operating leases for offices, Plant & Machineries that are renewable on annual basis and cancelable at the mutual consent of the lessee and lessor. Rental expenses for such operating lease recognized in Statement of profit & loss with the purview of AS-19 on cancelable operating leases above is Rs 40,76,360/-.

9. Primary Segment: The Company is primarily engaged in the business of Liquor etc. Therefore as per Accounting Standard-17 "Segemnt Reporting" reportable segment is liquor segment only. Hence, the company has not given segment reporting.

Secondary Segment: Geographical segment has not been given as the company is not working in a separate economic environment which has effect on risk and return, which are different from the one in which the company is presently working.

10. In the opinion of the Management, the Current Assets, Loans and Advances have realizable value, which is at least equal to the amount at which they are stated. Letters of confirmation of balances are awaited in most of the cases.

11. The company has not received any information from suppliers regarding their status under Micro, Small Scale and Medium Enterprises Development Act, 2006 and hence, disclosure , if any, relating to amounts unpaid at the year end together with any interest payable as required the said Act have not been given.


Mar 31, 2011

A. Assets & Liabilities relating to Income Tax have not been included in above figures

B. While preparing segment report as above only income, expenditure, assests and liabilities pertaining to concerned segments have been taken into consideration.

C. Geographical segment has not been given as the company is not working in a separate economic environment which has effect on risk and return, which are different from the one in which the company is presently working.

a. Since no managerial remuneration has been paid u/s 198 of Companies Act, 1956. So statement of computation of Net profit u/s 198 is not applicable on the Company.

b. INTEREST ON UNSECURED LOAN FROM DIRECTORS AND THEIR RELATED CONCERNS

The company received the Interest waiver confirmation from the directors and other related concerns for nonpayment of Interest.

1. In the absence of information regarding sundry creditors with regard to their status as Small Scale Industrial Undertakings, it is not possible to determine the amount, if any, payable to sundry creditors falling within the meaning of Small Scale Industrial Undertaking.

2. Previous years figures have been regrouped / re-arranged wherever necessary.

3. In the opinion of the management, the current assets, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. Abstract as per Part IV of Schedule VI is separately enclosed. (As per Annexure-II)


Mar 31, 2010

Particulars Amount in Rs.

Deferred Tax Liability As on 31 -03-2009 5,86,537/-

Provision for Deferred Tax made during the year 5,31,333/-

Deferred Tax Liability as On 31-03-2010 11,17,870/-

B. Sales Revenue, Expenses, Assets & Liabilities of Ludhiana Unit were accordingly shared between cosmetic products & mineral water in the ratios of their sales at ludhiana unit

C. Assets & Liabilities relating to Income Tax have not been included in above figures

D. While preparing segment report as above only income, expenditure, assests and liabilities pertaining to concerned segments have been taken into consideration.

E. Geographical segment has not been given as the company is not working in a separate economic environment which has effect on risk and return, which are different from the one in which the company is presently working.

13. Information pursuant to Part II of Schedule VI of the Companies Act, 1956 have been given below to extent the same are applicable to the Company)

b. VALUE OF IMPORT CALCULATED ON CIF BASIS:- NIL

c. EXPENDITURE AND EARNING IN FOREIGN CURRENCY:-

i) EXPENDITURE NIL

li) EARNING NIL

e. INTEREST ON LOAN FROM DIRECTORS

There was no arrangement or contract to pay interest on loan to the directors.

2. In the absence of information regarding sundry creditors with regard to their status as Small Scale Industrial Undertakings, it is not passible to determine the amount, if any, payable to sundry creditors failing within the meaning of Small Scale Industrial Undertaking.

3. Previous years figures have been regrouped / re-arranged wherever necessary.

4. In the opinion of the management, the current assets, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. Abstract as per Part IV of Schedule VI is separately enclosed. (As per Annexure-II)

 
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